News Column

Sunrise Resources Issues Shares To Directors Instead Of Cash Fees

August 20, 2014

Samuel Agini



LONDON (Alliance News) - Sunrise Resources PLC Wednesday said it has issued 1.7 million new shares to directors instead of cash fees as it looks to preserve cash for its exploration activities.



The decision was made on Tuesday, Sunrise said, adding that the issue of shares instead of cash is in line with current company practice.

Sunrise said that the shares were issued at 0.425 pence each, the closing mid-market price that day. The new share issuance means United Carpets will have 503.3 million shares in issue.

Sunrise Resources shares Wednesday closed down 0.6% at 0.423p.





Director name

Number of new shares issued

Interest in enlarged

issued share capital

% of enlarged

issued share capital

Executive Chairman

Patrick Cheetham


821,944

*19,355,675

3.85%

Senor Non-Executive Director Francis Johnstone

614,273

5,943,748

1.18%

Non-Executive Director

David Swan


272,838

2,423,522

0.48%

*includes 5,500,000 shares held by K E Cheetham, the chairman's wife








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Source: Alliance News


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